MCQ Economics Class 12 Chapter 1 Introduction Microeconomics Advertisement MCQ’s For All Chapters – Microeconomics Class 12th 1. Goods means which types of good which we use to satisfy people’s wants and needs?PhysicalTangibleIntangibleBoth (a) and (b)Question 1 of 152. Which of the following statement is correct.Everyone can fulfill there all wants.Resources are unlimitedEveryone faces scarcity of resources.Wants are limited.Question 2 of 153. A decision making unit can be.a single persona groupany organizationAll of aboveQuestion 3 of 154. which of the following is the basic economics problem faced by the society.allocation of the limited resources.to satisfy all the wantswants are limitedresources are unlimitedQuestion 4 of 155. Which of the following is not a economic activity.ProductionTradingExchangeConsumptionQuestion 5 of 156. Which of the following is not central economic problem.How to produce?When to produce?what to produce?Whom to produce?Question 6 of 157. In a centrally planned economy the economic decision taken by.Seller take own decisionGovernment and central authorityBuyersWholesalersQuestion 7 of 158. The price of any good will rise.when the buyer demand morewhen the buyer not demandedwhen supply increase.when production increaseQuestion 8 of 159. In which type of economics we study the behavior of individual.macro economicsmicro economicspositive economicsnormative economicsQuestion 9 of 1510. In which type of economics we study the economy as whole by focusing our attention on aggregate measure.macro economicsmicro economicspositive economicsnormative economicsQuestion 10 of 1511. Which of the following is not concerned with the problem of choice ?Excessive incomeAlternative use of resourcesUnlimited wantsLimited (scarce) resourcesQuestion 11 of 1512. Example of micro economic variable is:Wholesale price indexNational incomeMarket demandAggregate demandQuestion 12 of 1513. Who controls economic activities under centrally planned economics ?IndustrialistsPrivate firmsGovernmentConsumersQuestion 13 of 1514. Slope of production curve is:a straight lineconvex to the point of origin ‘O’concave to the point of ‘O’none of theseQuestion 14 of 1515. The problem of 'what to produce' relates to:The choice of techniqueDistribution of incomeMarket value of the goods and servicesThe choice of goods and servicesQuestion 15 of 15 Loading...
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